Right now, the social media world is the online equivalent of an all-night rave: The noise level is deafening, the posturing is mind numbing, and every 18 seconds, a bad decision is made.
Remember when MySpace was going to rule the world? (And Second Life, and Friendster, and…)
Suddenly, it’s not looking good for the social network famous for its jumbled page layouts and teen sensibilities – especially on the monetization front, where rival Facebook is sucking the ad dollars (and the fluffiest, most desirable demographics) right out of MySpace’s Twinkie:
A Makeover for MySpace as It Slips in Popularity – NYTimes.com
Meanwhile, Facebook has surpassed MySpace as the biggest social network in the world and is on track to beat MySpace among United States users this year.Furthermore, there are indications that MySpace is losing audience outright. While the site drew 70 million unique visitors in the United States in February and in March, that figure was down from 75 million in December and in January.
Compared with the overall online population in the United States, the site draws disproportionate numbers of teenagers, twentysomethings and people whose household income is less than $25,000 a year, according to the measurement firm comScore. The Facebook audience tends to be more affluent, making it a more appealing space for higher-end advertisers.
There’s no doubt social media is here to stay, but which social network is ripe for engaging with customers & prospects? Where should a company put its resources?
Unfortunately, we’re afraid to ask an expert; using powerful scientific methods far too complex to explain here (we extensively surfed the Internet, and wrote numbers on a napkin until we found one that looked impressive), the Engagement Principles has conclusively proved there are more social media experts in existence right now than there are human beings on the planet (hey, science isn’t perfect).
The question isn’t if Facebook and Twitter will win. It’s “who’s next?”
And how many companies will get hosed along the way.
Social media is in its bubble stage, and while there’s no denying the utility of the bazillions of social media channels appearing hourly, some perspective is needed – perspective not found in the social media’s own echo chamber.
Remember; authenticity, attitude and personality are key. The basic laws of marketing still apply. And when someone offers to fire up your social media program for you, make sure they’re (at least) out of high school.
Stay engaged, Tom Chandler.